CGU strengthens its UK life distribution

Article date: 5 July 1999

CGU Life, one of the UK's leading life and pensions companieshas strengthened its distribution through the acquisition of 49estate agency branches from the Halifax.

The dea

l enhances the position of the estate agency networkas a distributor of savings, investments and protection productsand as a major mortgage adviser.

The consideration for the deal is immaterial in the context ofthe Group's assets

Notes to Editors

  • CGU Life, part of CGU plc, is the UK's sixth largest life andpensions company and has £30 billion under management on behalf of4 million customers.
  • CGU's estate agency division trades under the name GeneralAccident Property Services ("GAPS") and has more than 300 branchesthroughout the UK.
  • Life and savings sales through GAPS were 26% higher at £10m in1998, measured by NAPI (new annual premiums plus a tenth of newsingle premiums and investment products).

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